Help Save Gibson Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow. Sales are budgeted at $220,000 for November, $200,000 for December, and $190,000 for January. . Collections are expected to be 45% in the month of sale and 55% in the month following the sale. The cost of goods sold is 60% of sales. The company would like to maintain ending merchandise inventories equal to 50% of the next month's cost of goods sold. Payment for merchandise is ma in the month following the purchase. Other monthly expenses to be paid in cash are $22.800. . Monthly depreciation is $13,800. Ignore taxes. $ Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $574,400 accumulated depreciation Total assets 22,400 72,400 66,000 1,096,400 $1,257,200 $ Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings 256,400 822,400 178,400 The difference between cash receipts and cash disbursements for December would be: Help Multiple Choice 22 o $102,600 o $46,650 o $62 200 o $36,200